China Plans Urgent Audit of Public Debt

Burgeoning Borrowing Adds to Stress on China's Financial System

BEIJING—China will conduct an urgent review of overall public debt, highlighting concerns about burgeoning official borrowing that are adding to stress in China's financial system and limiting Beijing's capacity to support flagging growth.

In a one-line statement on Sunday, China's National Audit Office said it would carry out an examination of total government debt, acting on the orders of the State Council, China's cabinet.